5 Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2024: March 17 Accounts receivable of $1,800 were written off as uncollectible. The company uses the allowance method. March 30 Loaned an officer of the company $21,000 and received a note requiring principal and interest at 8% to be paid on March 30, 2025. May 30 Discounted the $21,000 note at a local bank. The bank's discount rate is 9%. The note was discounted without recourse and the sale criteria are met. June 30 Sold merchandise to the Blankenship Company for $13,000. Terms of the sale are 3/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Company paid its account in full. August 31 Sold stock in a nonpublic company with a book value of $5,100 and accepted a $6,200 noninterest-bearing note with a discount rate of 9%. The $6,200 payment is due on February 28, 2025. The stock has no ready market value. December 31 Weldon estimates that the allowance for uncollectible accounts should have a balance in it at year-end equal to 2% of the gross accounts receivable balance of $800,000. The allowance had a balance of $13,000 at the start of 2024. Required: 1 & 2. Prepare journal entries for each of the above transactions and additional year-end adjusting entries indicated. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations and round your final answers to nearest whole dollar. Answer is not complete. No Date General Journal 1 March 17, 20 Allowance for uncollectible accounts Accounts receivable 2 March 30, 20 Notes receivable Cash 3 May 30, 2024 Interest receivable 3 Debit 1,800 Credit 1,800 21,000 21,000 280 280 4 Interest revenue May 30, 2024 Cash Loss on sale of notes receivable Interest receivable Notes receivable June 30, 202 Accounts receivable Sales revenue 6 July 08, 2024 Cash Sales discounts Accounts receivable 7 8 August 31, 20 Notes receivable Discount on notes receivable Investments Gain on sale of investments December 31 Bad debt expense Allowance for uncollectible accounts 9 December 31 Discount on notes receivable Interest revenue 3333 333 33 3333 33 33 13,000 13,000